Ontario launched a new OINP Entrepreneur Pilot Program

Highlights of Ontario aimed to welcome 100 newcomers through the new Entrepreneur Pilot Program

• Ontario will welcome 100 newcomers outside Toronto through the new Entrepreneur Pilot Program
• The duration of the new Entrepreneur Pilot Program is two years
• The new program is named as OINP Entrepreneur Success Initiative
• Net worth for the applicants should be $400,000 and investment amount should be $200,000
• Individuals should have 33 percent ownership of the business

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New OINP Entrepreneur Pilot Program to invite 100 newcomers

Ontario launched a new Entrepreneur Pilot Program whose duration is two years. The program will invite 100 newcomers outside Toronto.  The new program will be administered by Toronto Business Development Centre. TBDC will work for securing applications for the Entrepreneur Stream of the Ontario Immigration Nominee Program.

Requirements of the new Entrepreneur Pilot Program

The basic requirements for the OINP Entrepreneur Pilot Program are as follows:

• Net worth of $400,000
• Investment of $200,000
• Business ownership of 33 percent

Additional services that TBDC will provide for the OINP Entrepreneur Pilot Program

The additional services that TBDC will provide are as follows:

• Looking for new business opportunities outside Toronto
• Informing potential international entrepreneurs about the opportunities
• Providing support in starting a new or purchasing an existing business
• Matching entrepreneurs and business opportunities
• Help the applicants in submitting EOI
• Help candidates to apply for a Canada PR visa after getting ITAs

The government of Ontario is hoping that the new program will create jobs in the following sectors:

• Tourism
• Life sciences
• Information Technology

If the business operations continue for 18 to 20 months, Applicants will become eligible to apply for Canada PR.

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Also Read: Ontario issued 28 invitations under Entrepreneur stream through OINP
Web Story: OINP launches Ontario Entrepreneur pilot program for welcoming immigrant Entrepreneurs.